Five ways to get the best value from your health cover
Follow these easy tips to make sure your health cover is working for you.
Over 55 percent* of Australians rely on private health cover each year, but not everyone is getting the most out of their insurance. There are a few simple ways to maximise your health cover so you can get what you pay for and feel good about your purchase.
Here are five tips that can help you get better value out of your health cover.
Here’s How You Do It:
Step 1: Select your current life stage below.
Step 2: Once you select your preferred coverage options, you will have the opportunity to compare quotes from multiple health funds.
- Compare policies regularly
The cost of private cover varies depending on your insurer and your policy, so comparing your insurer against others on the market is a smart move. Visit HealthInsuranceComparison.com.au to see how your policy stacks up. You may find that switching to a different insurer can result in significant savings.
- Ask your insurer about gap agreements
The Medicare Schedule Fee lays out an established cost for hospital procedures. As a private patient, Medicare covers 75 percent of this fee and your health fund covers the remaining 25 percent. However, if your doctor charges more than the established cost, then you will be liable for the gap. Fortunately, most insurers have gap agreements in place with certain hospitals and doctors so you don’t have to pay extra. Ask your insurer for the details of any gap agreements to avoid getting stuck with the bill.
- Read your annual claim statement
If you don’t already have it, ask your insurer for a copy of your annual claim statement. This document is a great tool to see how you actually use your health cover. It will spell out how much you’ve paid in premiums and how much you’ve received in claims. If you’re paying for benefits that you’re not using, it’s probably time to compare health cover to find a policy that better suits your needs.
- Consider suspending your insurance while overseas
Going overseas for an extended period of time? You may be able to suspend your health coverage. That means that you won’t have to pay premiums while you’re away and can resume your cover when you get back, without re-sitting any waiting periods. Note that not all insurers will allow suspensions and you won’t be able to make any claims while your cover is suspended.
- Request a product guide for your policy
Too many Aussies report that they’re not quite sure what their health insurance actually covers. Ask your insurer for a product guide that identifies what you’re paying for so you can better utilise your policy. The advisors at Health Insurance Comparison can help walk you through your policy details using terms that are easy to understand.
Get a great deal on health insurance and excellent customer service when you use HealthInsuranceComparison.com.au. Visit today to find out how you can start saving on your private insurance.
Get Started Now:
Step 1: Select your state below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.